Swiss city of Lugano to pay taxes in crypto via Tether partnership
The ultimate goal is to accept crypto for payment of all goods and services in the city of Lugano, the city administration said. Go to Source Powered by WPeMatico
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South Korean crypto market grows to $45.9B in 2021 despite strict regulations
The 24 licensed crypto exchanges registered a collective average daily transaction volume of near $9.4 billion. Go to Source Powered by WPeMatico
Central Bank of Argentina Prepares New Regulations for Digital Wallets
The Central Bank of Argentina is reportedly working on a new group of regulations seeking to control the totality of the digital wallets in the country. This new legal framework is directed at stopping fraud said to be facilitated by these tools. According to leaks on local media, the publication of the law is imminent. … Read more
Miners Have Moved 30% of Their Equipment Out of Kazakhstan, Industry Organization Claims
Authorized crypto mining businesses have already taken a third of their coin minting hardware out of Kazakhstan, according to the country’s mining association. The news comes amid electricity shortages and upcoming tax hikes that are turning miners away from the Central Asian nation. Bitcoin Miners Start Pulling Machines Out of Kazakhstan Companies, legally operating mining … Read more
Georgia lawmakers consider giving crypto miners tax exemptions in new bill
The state is expected to have 56,000 Bitmain miners operating by October as part of an agreement with Bitmain, ISW Holdings, and Bit5iv. Go to Source Powered by WPeMatico
India’s crypto tax provides little legal clarity for traders and exchanges
The Indian government’s recent announcement of a 30% tax on crypto returns has sparked an industrywide discussion on its feasibility. Go to Source Powered by WPeMatico
Colorado governor says he expects state to accept tax payments in crypto by summer
The governor added that paying taxes in crypto was likely just the first step, with using digital asset payments for certain licenses to follow “within a few months.” Go to Source Powered by WPeMatico
UK tax authority makes first NFT seizure in VAT fraud case
The tax authority made three arrests in connection with a suspected tax evasion using shell companies and false identification. Go to Source Powered by WPeMatico
Crypto miners exempt from IRS reporting rules, US Treasury affirms
The U.S. Treasury affirmed that crypto miners and wallet operators are exempt from the IRS reporting rules, preparing appropriate regulations. Go to Source Powered by WPeMatico
Spain Modifies Tax Model 720, Used to Declare Cryptocurrency Holdings Abroad
The Spanish parliament has introduced an amendment to the tax model 720 used to declare cryptocurrency and other holdings abroad, softening some of the penalties associated with it. The modification, which has not yet been approved, changes some of the harsher penalties that were declared illegal by the Court of Justice of the European Union … Read more